SOURCE: WCB Capital Ltd.

October 09, 2007 17:58 ET

WCB Closes Initial Public Offering

BRISBANE, AUSTRALIA--(Marketwire - October 9, 2007) - WCB Capital Ltd. (TSX-V: WCB.P) (the "Company"), a capital pool company pursuant to Policy 2.4 of the TSX Venture Exchange (the "TSX-V"), is pleased to announce that on October 5, 2007 it completed its initial public offering of 3,000,000 common shares (the "Shares") issued at a price of $0.10 per Share resulting in gross proceeds to the Company of $300,000 pursuant to a prospectus dated August 22, 2007. A cash commission of 10% of the gross proceeds of the offering was paid to the Company's agent, Union Securities Ltd. ("Union"), as well as a corporate finance fee of $10,000. In addition, Union received 300,000 non-transferable options to acquire up to 300,000 Shares at a price of $0.10 per Share for a period of 24 months, in consideration for its services as the Company's agent. The Company will use the net proceeds from the offering for examination and possible participation in, or acquisition of, assets or businesses.

As a result of this issuance, the Company has 6,000,000 Shares issued and outstanding. The Company has received approval for the listing of its Shares on the TSX-V under the symbol "WCB.P" and the Company's common shares are expected to commence trading on the TSX-V on October 10, 2007.

On behalf of the Board of Directors

Cameron Switzer
President, Chief Executive Officer

For further information please contact:

Shaun Maskerine

Telephone: (604) 681-5755

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

WCB Capital Ltd.
Level 5, Santos House
60 Edward Street
Brisbane Qld 4000
Australia

Contact Information

  • For further information please contact:

    Shaun Maskerine

    Telephone: (604) 681-5755

    WCB Capital Ltd.
    Level 5, Santos House
    60 Edward Street
    Brisbane Qld 4000
    Australia